Former Australian Prime Minister Tony Abbott recently delivered a speech during the CQS Meet the Manager Investment Forum in New York. Excerpts from his remarks, which focused on the geopolitical implications of China’s rising power, were published in The Australian:
The fear haunting the world right now is that history may repeat itself. People see a globally dominant liberal democracy challenged by an authoritarian rising power; and they ponder the parallel between Britain and Germany a century ago and America and China now.
Economic self-interest, political convergence and the obvious downside of conflict eventually drew the oceanic and the continental power together — as it is supposed to now — but only after two cataclysmic world wars. Of course, China’s “inexorable” rise assumes continued strong economic growth and internal stability. But the frantic quest of rich Chinese to buy foreign assets and secure Western passports suggests that those who know China best don’t take either for granted. And the “declinists” are oblivious to the global appeal of Anglo-American culture and values.